COM33020 - Background: typical case examples: new company - S55 FA 2004 information not provided
A new company is incorporated, but does not comply with the normal requirement to provide necessary information. »Ê¹ÚÌåÓýapp example covers live APs, dormant periods and the use of appropriate COTAX update functions.
»Ê¹ÚÌåÓýapp events are numbered in date order, and identified as follows
- Business Event - Action taken or arising outside HMRC
- Automatic Event - Automatic COTAX action within HMRC
- Procedural Action - Action taken by an operator
| Order & Type of Event | Action(s) Taken |
|---|---|
| 1 (Business Event) | Co B Ltd formed and registered with Companies House. |
| 2 (Automatic Event) | COTAX record for Co B Ltd set up automatically from information provided by the data feed from Companies House. |
| 3 (Automatic Event) | COTAX Assigns UTR number, Creates the first AP from the date of incorporation for 12 months and a second from the day after the end of the first period to the Accounting Reference Date, Issues form CT41G to explain what information the new company must supply. |
| 4 (Business Event) | Company does not supply the information required by S55 FA 2004 and despite enquiries no further information is received. |
| Approximately 1 month after the first recorded AP ends | Ìý |
| 5 (Automatic Event) | COTAX issues a notice to deliver with payslip, Calculates the , Records the specified period and the issue of the notice to deliver, Creates the next AP on the COTAX record |
| Some time later……………â€� | Ìý |
| 6 (Business Event) | Co B Ltd sends a Nil return for the first 10 months from incorporation saying the company was dormant from incorporation, commenced in business from month 11 and will make up regular annual accounts. |
| 7 (Automatic Event) | COTAX captures the return details automatically and records the self assessment. Note: Strictly there is no self assessment as the period covered by the return is not an AP, but in practice COTAX records a Nil self assessment in cases in which the return is delivered by the filing date. |
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